A "waiver of premium" is a feature in some insurance policies that allows policyholders to stop paying premiums if they become disabled or unable to work. This means that even if you can't make payments due to a serious illness or injury, your insurance coverage will continue without interruption. This benefit is especially important for those who rely on their insurance for financial protection. By having a waiver of premium clause, you can ensure that your life insurance or disability insurance remains active, providing peace of mind during challenging times without the added stress of premium payments.